I-Minerals Inc. announced that it has received the results of the Pre-Feasibility Study ("PFS") for its Bovill halloysite and metakaolin project. The Bovill Project is strategically located within five miles of state highways with commercial distributions of electricity and natural gas already near the property boundary. The PFS was led by Millcreek Engineering, who were responsible for overall project management and the process plant and infrastructure design (including OPEX and CAPEX) and economic analyses. Other engineering and geological services were provided by Mine Development Associates (mine modelling; ore scheduling; mineral reserve estimation); SRK Consulting (U.S.) Inc. (mineral resource estimation); and, HDR Engineering Inc. (environmental review). The PFS is based on the production of two minerals, halloysite and kaolinite. Two halloysite products are manufactured; `HalloPure' which is about 70% halloysite and 30% kaolinite and premium quality `Ultra-HalloPure' which contains greater than 90% halloysite with the balance kaolinite. The quality of Bovill halloysite is regarded as being exceptional and the research on halloysite applications has dramatically increased over the past 5 years involving polymers, filtration, extruded polystyrene insulation, green technology and life sciences. The kaolinite is flash-calcined to produce metakaolin, a Supplementary Cementitious Material ("SCM") and highly reactive pozzolan, that when added to concrete increases strength and durability, reduces permeability, reduces the effect of alkali-silica reactivity and increases resistance to chloride ingress and sulfate attack. By using metakaolin the sustainability of the concrete is increased through longer service life and the carbon footprint is reduced by lowering the quantity of Portland cement. Sand is produced during the production process which meets the specifications of a number of appplications including arena sand and USGA-specified bunker and top-dressing sand. There is a potential upside from sale of sand which is not included in the project economics and accordingly the sand is not included in the reserves. The resource defined at the Bovill Project is a fine white clay-sand mixture, referred to as "primary clay," that formed through the weathering of a border phase of the Idaho Batholith. During the weathering, the sodium feldspar in the intrusive breaks down to kaolinite +/- halloysite. The primary clay, which forms in place during weathering, provides a feedstock containing kaolinite, and halloysite as well as a quartz- k-spar sand product. The Measured and Indicated Mineral Resources are reported in Table 1. No mining cut-off grade is applied since all material within the pit design shows potential economic viability Three mineral products are included in the resource: quartz and K-spar sand, kaolinite clay, and halloysite clay. The mineral resource model considers 337 core holes totalling 37,512 feet. Drilling depth ranges from 20 to 260 ft., averaging 111 ft. All drill holes have a vertical orientation with hole spacing on approximate 100 or 200 ft. centers. Grade estimations were made using inverse distance squared for all the mineralized domains. Assays were composited to 10 ft. lengths. All estimations are based on a homogeneous block model with dimensions of 20 ft. X 20 ft. X 10 ft. block size based on current drill hole spacing and a potential open pit bench height. The block model is subdivided into four model areas based primarily on the geographic location. The PFS individually tracks the production and sale of two halloysite products and a metakaolin product which yield a weighted-average price of $810 /ton of products sold. The pricing of the mineral products and associated markets is based on preliminary studies being undertaken by a European company specializing in halloysite research, and a US-based SCM expert on metakaolin. The mineral reserves delineated from the primary clay represent the largest confirmed deposits of high-quality kaolin and halloysite in the western United States. Initial indicative economics were performed assuming a 25-year market for primary clay products and focusing on those areas of the Resources that contain greater concentrations of halloysite and kaolinite. The reserves are under a shallow layer of overburden generally less than 20 feet thick. Pits are limited to depths of approximately 70 to 75 feet. Given the physical properties of the primary clay, no drilling or blasting is required. The process flow sheet includes wet screw classification and screen separation of the halloysite and kaolinite clay fraction from the quartz and K-spar sand fraction. The clay fraction is separated into kaolinite and halloysite using hydrocyclone, centrifuge, and proprietary flotation techniques to yield +90% purity halloysite products (the latest analytical results indicate a 96% purity halloysite product from the recent pilot plant).